By Kevin McCauley
Mel Karmazin is stepping down as CEO of SiriusXM Radio on Feb. 1, which is a month after the expiration of his employment contract.
The move comes as John Malone’s Liberty Media is poised to win control of the satellite radio company, pending Federal Communications Commission approval.
Karmazin, 69, is a long-time rival of Malone, who praised the exiting CEO for overseeing the Sirius and XM merger and “delivering outstanding performance.”
He understands Karmazin’s decision to “pursue other interests” and is “grateful for his willingness to oversee a smooth and orderly transition,” according to Malone’s statement.
A search committee chaired by Liberty CEO Greg Maffei will consider internal and external candidates to replace Karmazin. |